Once Homeless, Former Navy SEAL Steals Over $1 Million in Investments from Fellow SEALs

9 Sep 2014

Former Navy SEAL Jason Matthew Mullaney pled guilty Monday to charges of grand theft and fraud in the false sale of securities, reportedly using his SEAL status to solicit investments from fellow SEALs and a family friend.

Mullaney stole over $1 million from 11 active and former SEALs and one family friend, persuading them to invest in his company Trident Financial Holding and Acquisitions. He then spent the money for his own purposes and now faces a prison sentence of six years, eight months to 12 years, eight months for his crime, reports ABC 10 News.

10 News quoted Deputy District Attorney Hector Jimenez as saying, “The SEALs thought they were investing money, but in reality, Mr. Mullaney was simply spending their money for his own purposes… They all lost all their money.”

Two years ago, Mullaney was reported as pleading not guilty to 29 felony charges including grand theft and fraud, according to a 2012 Navy Times report. The same report stated that Mullaney was homeless at the time he was arrested in 2012. That arrest was reportedly made in San Diego, police picking up Mullaney near a freeway off-ramp.